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USDMXN is trading lower following Tuesday's rejection off the high of 12.2611.
- Technical conditions remain bearish and attention is on support at 19.7006, low Dec 8.
- A break would resume the underlying downtrend and open 19.6034, a Fibonacci projection.
- Support levels to watch:
- SUP 1: 19.7006 Low Dec 8
- SUP 2: 19.6037 1.50 proj of Aug 4 - Sep 18 - Sep 24 price swing
- SUP 3: 19.3601 1.618 proj of Aug 4 - Sep 18 - Sep 24 price swing- Key resistance is 12.2611.